COLORADO SPRINGS — On Nov. 9, Colorado Springs City Council approved a proposed rate increase for natural gas and electricity, which will go into effect Nov. 15.
Colorado Springs Utilities (CSU) said that they are doing this due to a rise in natural gas prices globally. On their website, they say that natural gas prices are now almost 100 percent higher than this time last year because of supply concerns and rising demand.
The city also voted to increase utility rates last February due to increased demand for utilities for heating.
"We're seeing demand for exported compressed natural gas particularly to Europe, and Mexico. So with new demands that we haven't really had before, that is causing pressure in prices domestically," said Scott Shirola, Acting Price and Rates Manger with Colorado Springs Utilities.
CSU said they expect this to be a short-term increase and that customers could see decreases by February or May 2022.
The increase on a sample residential bill will be approx. $28.52 per month, although the cost could vary depending on use.
For a full breakdown of the price increase see the chart below:
CSU also noted that there are several programs available that can help customers pay the bills during the price increase:
- Customer assistance: LEAP, Project COPE and Energy Outreach Colorado.
- Flexible Payment Plans (one-time extensions and installment plans).
- Efficiency tips and rebates.
- United Way by dialing 211